March S&P Futures: The market moved above the 1430-31 resistance zone early this morning in European trading. The 1435 level should stop the rally and the next development will then be a drop to 1416 or a little lower. Strength above the 1435 level would force me to abandon the 1416 target and mean that the market is headed for 1455.
March Bonds: The bonds should find temporary support in the 111-16 to 111-20 range. The market is headed down to 109-110 over the next few weeks.
March 10 Year Notes: The notes should find temporary support near 107-28. The market is headed down into the 105-106 range over the next few weeks.
Euro-US Dollar: I think that a move to 116 and lower has begun. Resistance above the market is at 132..
Dollar-Yen: The market is headed for temporary resistance at 122.00. Support today is at 118.50. I expect to see the yen trade at 130 in 2007.
February Crude: Resistance above the market is at 63.80. I expect crude to drop to 57.50.
February Gold: I think a big drop in gold is underway and will carry the market below 500. Short term support is 605 while resistance above the market is at 633.
March Silver: I think a big drop in silver is underway and will carry the market below 900. The 1195 level is now short term support and resistance above the market is at 1295.
Google: Google has entered the 450-55 support zone. The next significant move should be upward to 564.